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$1,895,000 Just Listed

  • For Sale
  • Active
  • Commercial Residential Facility
  • 0.14 Acres
  • Updated 4 days ago
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Eight 2BR/1BA units near Lake Merritt offering a 6.23% current cap rate and 8.20% at market rents. Average scheduled rent of $2,186 trails the $2,600 market rent by 18.9%. Six of eight units are renovated, and one vacant unit is scheduled at market. Oakland rents rose 13.0% year over year as of July 2026 (Apartment List), second-fastest among the 100 largest U.S. cities, as San Francisco's AI-driven rent surge pushes renters east. Current NOI $118,092; NOI at market rents $155,330.

Full Property Details for 296 Lester Ave

General

  • Price: $1,895,000
  • Status: Active
  • Type: Commercial Residential Facility
  • Source: MAX
  • MLS ID: 41151543
  • Updated: 10/16/2026
  • Added to Site: 5 day(s) ago

Interior

  • Flooring: Vinyl

Additional Information

  • Equipment: None

Parking

  • Parking Features: Covered

Location

  • Area: Listing
  • County: Alameda
  • Subdivision: Lake Merritt
  • Driving Directions: East of Lake Merritt on Lester Ave between Acton Pl / Hanover Ave

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Forced Air

Utilities

  • Water: Public

Structural Information

  • Exterior Const.: Frame, Siding - Stucco
  • Roof: Flat
  • Year Built: 1959

Lot Features

  • Property View: Lake, City
  • Lot Size (Acres): 0.14
  • Lot Dimensions: 6098.4
  • Lot Features: Other

Financial Considerations

  • Price Per Sq. Ft.: $312
  • Terms: Conventional

Disclosures and Reports

  • Property ID: 21227333

Listed by Marcus & Millichap, Joseph Owens

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Listing agent

— 296 Lester Ave —

  • Joseph Owens

    Marcus & Millichap

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 296 Lester Ave

School District:Oakland Unified School District
NameGradesDistance
Cleveland Elementary School, Oakland, CA
745 Cleveland Street, Oakland, CA 94606
K-50.4 mi
Edna Brewer Middle School
3748 13th Avenue, Oakland, CA 94610
6-81.2 mi
Oakland High School
1023 MacArthur Boulevard, Oakland, CA 94610
9-120.8 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 296 Lester Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/16/2026
Listed
$1,895,000
-23.12%
MLS
10/21/2021
Sold
$2,465,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 296 Lester Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$35,790
—
$1,977,840
-11%
2025
$35,790
3%
$2,214,120
-14%
2024
$34,888
-16%
$2,575,376
2%
2023
$41,388
3%
$2,525,156
2%
2022
$40,008
202%
$2,477,332
291%
2021
$13,251
1%
$634,288
1%
2020
$13,104
9%
$629,722
2%
2019
$12,020
2%
$615,480
2%
2018
$11,752
7%
$603,414
2%
2017
$11,025
3%
$591,584
2%
2016
$10,697
1%
$579,987
2%
2015
$10,625
-4%
$571,275
2%
2014
$11,041
1%
$560,087
—
2013
$10,878
—
$557,558
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 296 Lester Ave

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by Marcus & Millichap, Joseph Owens

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296 Lester Ave, Oakland, CA 94606 (MLS# 41151543) is a Commercial Residential Facility property. 296 Lester Ave is currently listed for $1,895,000 and was received on October 16, 2026. Want to learn more about 296 Lester Ave? Do you have questions about finding other Commercial Residential Facility real estate for sale in Oakland? You can browse all Oakland real estate or contact a Coldwell Banker agent to request more information.

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